Apple (AAPL)

Apr 7, 2021Trade Ideas

Apple (AAPL) has become a buy opportunity.

Oversold, it’s just beginning to pivot higher, and could rally back to $135, near-term. Even Wedbush analyst Dan Ives has said now would be a good time to buy, saying it could rally 25% to 30% by the end of the year. He also highlighted Apple as a top buy and said the “super cycle thesis” for iPhones looks to be playing out.

With a $175 price target, Ives also believes iPhone sales will reach 240 million to 250 million this year, as compared to Wall Street estimates for 220 million. Ives has an outperform rating on the stock with a price target of $175 at the moment.

There are a couple ways to trade Apple here.

One is to buy the AAPL stock up to $130 with a stop loss of $124. We have an initial price target of $135. And, or buy to open the AAPL May 21, 2021 130 calls at market.

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